NCS Multistage (NASDAQ:NCSM) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded NCS Multistage from "strong‑buy" to "buy", even as other firms (Weiss, Zacks) recently upgraded the stock and MarketBeat reports an average rating of "Strong Buy".
• Strong quarterly results: NCSM reported $1.60 EPS vs. $0.70 expected and $50.63M revenue vs. $43.6M est; the stock opened at $73 (up 3.2%), with a market cap of ~$186.2M and a P/E of 8.53.
• High institutional ownership: 70.91% of shares are held by hedge funds and other institutions, with several managers increasing positions in the fourth quarter and a new stake added by Truffle Hound Capital.

NCS Multistage (NASDAQ:NCSM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently weighed in on NCSM. Weiss Ratings upgraded NCS Multistage from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Zacks Research raised NCS Multistage from a "hold" rating to a "strong-buy" rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, NCS Multistage has an average rating of "Strong Buy".

NCS Multistage Trading Up 3.2%

NASDAQ:NCSM opened at $73.00 on Friday. The stock has a market capitalization of $186.15 million, a price-to-earnings ratio of 8.53 and a beta of 0.55. NCS Multistage has a 52 week low of $25.09 and a 52 week high of $75.57. The company has a quick ratio of 2.91, a current ratio of 4.27 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $48.07 and a 200 day moving average of $43.72.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.90. NCS Multistage had a net margin of 12.93% and a return on equity of 10.32%. The business had revenue of $50.63 million for the quarter, compared to analyst estimates of $43.60 million.

Institutional Investors Weigh In On NCS Multistage

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in shares of NCS Multistage by 46.5% in the 4th quarter. NewEdge Advisors LLC now owns 10,383 shares of the company's stock valued at $410,000 after acquiring an additional 3,296 shares during the period. Empowered Funds LLC lifted its position in NCS Multistage by 5.5% during the 4th quarter. Empowered Funds LLC now owns 19,853 shares of the company's stock worth $784,000 after acquiring an additional 1,042 shares during the period. Bridgeway Capital Management LLC grew its stake in NCS Multistage by 3.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 29,853 shares of the company's stock valued at $1,179,000 after purchasing an additional 1,042 shares during the last quarter. Truffle Hound Capital LLC purchased a new stake in NCS Multistage during the 4th quarter valued at about $1,462,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of NCS Multistage by 20.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,044 shares of the company's stock valued at $832,000 after purchasing an additional 3,571 shares during the period. 70.91% of the stock is owned by hedge funds and other institutional investors.

About NCS Multistage

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company's product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.

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